The technique invented by IonQ and FCAT leverages copulas, a method often used in statistical models to
describe relationships between large numbers of variables. For instance, large financial institutions use copulas to understand relationships between stock prices (if the price of X is within a particular range, then the price of Y tends to go up).
By using quantum computers to implement copulas, IonQ and FCAT demonstrated the ability to construct complex models beyond the capability of classical computers.
This research, performed on IonQ hardware, shows quite clearly that leveraging quantum computing can lead to superior financial modeling results. The
application of quantum machine learning to other industries, ranging from climate science to geopolitics, means that a quantum-shaped future is just around the corner, said Peter Chapman, CEO and President of IonQ. Fidelity has long been
a leader in understanding how new technologies will shape markets and industries, and were excited to work with them in this space.
The
copula method underlying FCAT and IonQs work can potentially be applied to any industry dealing with complex systems that involve several correlated variables. In the near future, it is expected that quantum machine learning may be applied to
climate research, medical imaging, and recommendation systems. In finance, the first quantum machine learning methods using copulas are likely to be applied to risk management and portfolio optimization.
At FCAT, we track new and emerging technologies and trends to help Fidelity meet the changing needs of our customers and associates, said Adam
Schouela, Head of Emerging Technology, FCAT. Classical computing enabled breakthroughs in the financial services space, and we expect quantum computings impact to be no less significant. Were thrilled that our latest research with
IonQ can help demonstrate quantums potential in this space.
The news continues a year of considerable momentum for IonQ. Its trapped-ion quantum computers were recently added to Google Cloud Marketplace, making IonQ the only supplier whose quantum computers are available via all of the major cloud providers. In addition, IonQs co-founders joined the White Houses National Quantum Initiative Advisory Committee to accelerate the development of the national strategic technological imperative.
About IonQ
IonQ, Inc. is the leader in quantum
computing, with a proven track record of innovation and deployment. IonQs 32-qubit quantum computer is the worlds most powerful trapped-ion quantum computer,
and IonQ has defined what it believes is the best path forward to scale. IonQ is the only company with its quantum systems available through the cloud on Amazon Braket, Microsoft Azure, and Google Cloud, as well as through direct API access. IonQ
was founded in 2015 by Christopher Monroe and Jungsang Kim based on 25 years of pioneering research. To learn more, visit http://www.IonQ.com.
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